Electronic market makers shuffle senior management

GETCO, the US-based electronic market maker, has named Daniel Coleman as CEO, while Easdaq, owner of the Equiduct pan-European trading venue, has appointed two people from fellow market maker Citadel to its board.

GETCO, the US-based electronic
market maker, has named Daniel Coleman as CEO, while Easdaq, owner of the
Equiduct pan-European trading venue, has appointed two people from fellow
market maker Citadel to its board.

As GETCO’s new CEO, Coleman
will take responsibility for the firm’s core market-making business and
continued expansion to client services offerings in the US and abroad.

Since his appointment in September 2010, GETCO has acquired Banc of America Specialists, a designated market making business on the floor of the New York Stock Exchange, and Automat, a London-based proprietary FX trading firm.

“In 2010, we were fortunate
enough to bring Daniel Coleman to GETCO,” said Stephen Schuler, co-founder at
GETCO, who has now also assumed the role of executive director at the firm. “We
had a sense that he might be the right person to lead us into the next phase of
our evolution, and we are pleased to see our instincts borne out. Since
joining GETCO, Daniel’s leadership and insights have greatly contributed to our
continued growth, success, and most importantly, our culture.”

Equiduct bolsters board

Meanwhile, Easdaq has added
four new members to its board, including Jonathan Graham, who leads Citadel’s
tactical trading business, and Jamil
Nazarali, who was appointed co-head of Citadel’s global automated trading
division last year after leaving his position as head of electronic trading at
US broker Knight Capital.

In addition, Daniel Pouget,
entrepreneur in residence at INSEAD business school, and Peter Randall, CEO at
Equiduct Systems, have also joined the Easdaq board.

Pouget was formerly a managing
director at Nasdaq OMX and CEO at agency broker Instinet France, and is also
one of the co-founders of broker Dufour Lacarrier Pouget. Randall was appointed
to lead Equiduct in 2009 and is best known for being the first CEO of
pan-European multilateral trading facility Chi-X Europe.

Citadel Securities took a
majority stake in Equiduct in July 2009, months after its launch by German
stock exchange Börse Berlin. Knight Capital also has a stake in Equiduct, which
it increased in June 2010 as part of efforts to expand its European market
making business.